This is a very common question I get to decipher the MRI of the spine.
You can read plenty more answers that are published.

Basically, there is not much happening to you because this happens to all of us as we grow wise.
Structures in the spine called discs that are between bony vertebral bodies loose they elasticity and water content and get dehydrated and lose their shape. They sometimes bulge too much and contact adjacent structures such as nerves. The thing is that it all doesn't matter unless you have symptoms related to a very particular nerve, and for that you need a careful exam by a doctor. if you do have pain related to L34 and L45 then you may be able to consult pain specialist who can offer some injections and see if they help.